Wells Fargo plans market-linked notes tied to SPDR S&P 500 ETF Trust

By Devika Patel

Knoxville, Tenn., May 10 – Wells Fargo & Co. plans to price 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 25, 2019 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any fund gain, subject to a cap that is expected to fall between 22% and 25% and will be set at pricing.

Investors will receive par if the fund falls by up to the 10% buffer and will lose 1% for each 1% decline beyond the buffer.

Wells Fargo Securities LLC is the agent.

The notes (Cusip: 94986R6E6) will price May 16 and settle May 23.

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